Joint press release
BASIC ELEMENT COMPANIES EXPAND PARTNERSHIP WITH NORINCO CORPORATION Moscow, April 28, 2012 - Oleg Deripaska, CEO of Basic Element and UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX-RTS: RUALR) and President of En+ Group, and Zhang Guoqing, President of China North Industries Corporation, signed a framework agreement on strategic cooperation providing for the joint implementation of projects in the engineering, mining and metal sectors.
Under the auspices of the agreement Basic Element and NORINCO
plan to boost the value of their economic and trade
cooperation to over US$1 billion within three years of 1
January 2012.
In particular, UC RUSAL has undertaken to expand its export
of aluminum products to China through sales to North United
Aluminum (Shenzhen) Co. Ltd, a joint venture company
established by the partners in China on the basis of Shenzhen
North Investments, a NORINCO subsidiary trading company with
15-year experience in Chinese non-ferrous metals market.
UC RUSAL will also study the feasibility of inviting NORINCO
to supply anode production equipment for the
Taishet aluminum smelter which is under construction.
En+ Group and NORINCO agreed to discuss NORINCO's
participation in a project to create Russia's largest
aluminum rolling mill on the basis of the Krasnoyarsk metal
plant. In addition, the parties agreed to develop a long-term
cooperation mechanism for resource development, including the
joint development of nickel, copper and other resources in
Russia and abroad.
NORINCO and Russian Machines have undertaken to enhance their
cooperation in the field of engineering, in particular
through sharing technological developments and their
certification. This is expected to lead to a gradual
extension of cooperation from the supply of components for
railway wagons to the joint design, manufacturing and
provision of maintenance services. The agreement also
provides for the purchase of up to
15,000 sets of wagon components from NORINCO by Russian
Machines.
Oleg Deripaska, CEO of Basic Element and UC RUSAL and
President of En+ Group, said: "We are pleased to
announce that we've reached a new level of cooperation with
NORINCO, not only by means of expanding the scope of our
joint projects, but also by investing in high-tech and
innovative production which we intend to develop jointly.
This agreement represents another step forward in the
development of our economic relations with China, one of the
most strategically important markets for Russia. Sino-Russian
trade turnover is already worth over US$80 billion. I am sure
our new projects will help this figure to grow
further."
Zhang Guoqing, President of China North Industries
Corporation, said: "We are delighted to strengthen our
partnership with Basic Element, one Russia's leading business
groups. Sino-Russian cooperation has a great future: not only
are we neighbors, we are connected by a long history of
relations based on mutual understanding and respect. I
believe that our projects, in sectors that are important for
both countries' industries, will provide a solid
foundation for the further development of mutually beneficial
partnerships between our two countries."
- End -
About Basic Element
Basic Element (www.basel.com) is one of the
Russia's largest and most dynamic diversified business
groups. Basic Element's companies are controlled by or
are within the scope of Oleg Deripaska business interests.
Basic Element through its affiliates owns significant stakes
in and operates dozens of companies operating in many
segments: Energy, Manufacturing, Financial Services,
Construction, Aviation, Agriculture and others. Over
250,000 people work at more then 100 Group's companies
in Russia, the CIS, Africa, Australia, Asia, Europe and Latin
America. Many of them play key roles in their respective
market segments in Russia and
internationally, including En+ Group, GAZ Group, Glavstroy,
Basel Aero and others.
En+ Group (www.enplus.ru) is a leading Russian diversified mining, metals and energy group. En+ Group holds a 47.41% stake in the world's largest aluminium producer UC RUSAL, owns Russia's largest independent power producer EuroSibEnergo and one of the leading suppliers of ferromolybdenum to the global market SMR, significant coal assets and logistics business. En+ Group 's companies project pipeline includes R&D on small- scale nuclear power, a JV with China Yangtze Power Co. to explore potential for sustainable new hydro power in Siberia, projects in iron ore, gold as well as aluminium downstream. The core base of En+'s businesses is located in Eastern Siberia - close to fast growing Asian markets.
About Russian MachinesRussian Machines is a major Russian diversified corporation, a part of Basic Element Company. It comprises industrial and engineering assets in such industries as automotive OEM, automotive components, rail industry, aircraft OEM, military vehicles, road construction machinery. Russian Machines enterprises are located in 14 regions of Russia. Corporation headcount is over 75,000. Russian Machines official website: www.rm.ru
About RUSALUC RUSAL (www.rusal.com) is the world's largest producer of aluminium, in 2011 accounting for approximately 9% and 9% of global production of aluminium and alumina, respectively. UC RUSAL employs about 74,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL's ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486), global depositary shares representing UC RUSAL's ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs), and Russian depositary receipts that are issued on common shares of the Company are listed on MICEX-RTS (RUALR) stock exchange.
About NORINCOChina North Industries Corporation (NORINCO) (http://www.norinco.com) is an enterprise group engaged in both products and capital operation, integrated with R&D, manufacturing, marketing, and services. NORINCO mainly deals with defense products, petroleum & mineral resources development, international engineering contracting, optronic products, civilian explosives & chemical products, sports arms & equipment, vehicles and logistics operation, etc.
Contacts:
Vera Kurochkina
+7 (495) 720-51-70
vera.kurochkina@rusal.com Irina Pashinkina +7 (495) 729-53-83IrinaVP@basel.ru
Disclaimer
The information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.
All announcements and press releases published by United Company RUSAL Plc are available on its website under the links http://www.rusal.ru/en/stock_fillings.aspxand http://www.rusal.ru/en/presscenter.aspx, respectively.
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